The currency pair Euro Dollar EUR/USD continues to move within the framework of the bullish correction. At the moment, we should expect a test of the resistance level near the area of 1.1830, where we can expect an attempt to rebound and continue the fall of the Euro/Dollar with a target below 1.1540.
EUR/USD forecast & technical analysis June 14, 2018
In favor of falling quotes EUR/USD will form a reversal model «Head and shoulders» on the indicator of relative strength index (RSI). The cancellation of the variant of the Euro Dollar price decline will result in a strong growth and breakdown at the level of 1.1930, which will indicate the breakdown of the upper limit of the bearish channel and the continued growth of the Euro/Dollar above the level of 1.2050. To expect confirmation of the continued decline of the pair is with the breakdown of the support area and closing below the level of 1.1700.
EUR/USD forecast & technical analysis June 14, 2018 suggests an attempt to test the resistance area near the level of 1.1830, from which we expect a rebound and an attempt to continue the fall of the pair into the area below the level of 1.1550, the cancellation of the EUR/USD fall will be a breakdown at level 1.1930, which will indicate to continue the growth of the pair in the area above the level of 1.2050.